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Ofwat today published a consultation paper into the change of ownership of Mid Kent Water. New joint owners Utilities Trust of Australia (UTA) and Hastings Diversified Utilities Fund (HDUF) have each purchased 50 per cent interests in the Swan Group, the intermediate holding company of Mid Kent. Ofwat is inviting views on any regulatory issues arising from the acquisition, including the:
Mid Kent Water, with an average regulatory capital value of more than £170 million in 2003-04, is the fourth largest of the 13 water-only regulated companies in England and Wales. It supplies water to 245,000 domestic and business customers in Kent and parts of East Sussex. Notes to Editors: 1. The Director General of Water Services is the economic regulator of the water and sewerage companies in England and Wales. He exercises his powers in a way that he judges will allow them to carry out their functions properly, and finance them. 2. The consultation paper on the completed acquisition of the Swan Group and its impact on Mid Kent Water will be available from the Ofwat website on www.ofwat.gov.uk or from the Ofwat library on 0121 625 1373. 3. Responses to the consultation should be sent in writing to Keith Mason, Director of Regulatory Finance, Ofwat, 7 Hill Street, Birmingham, B5 4UA (fax: 0121-625 3609) or by e-mail to keith.mason@ofwat.gsi.gov.uk to be received no later than 5.00pm on 20 May 2005. MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1416/1496/1442 Out of hours enquiries to pager: 08700 555 500 water 503/509. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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